Liechtenstein, OECD Discuss Global Cooperation In Tax Matters

03.11.2009

During a recent meeting in Paris, Liechtenstein’s Prime Minister Klaus Tschütscher and OECD Secretary-General Angel Gurría discussed the current status of the worldwide implementation of the OECD standard in tax matters.

The talks focused in particular on Liechtenstein's progress in implementing the standard in bilateral OECD-compliant tax agreements. Prime Minister Tschütscher informed the OECD about a number of successfully concluded bilateral tax information exchange agreements and double taxation agreements.

"Liechtenstein will soon be removed from the OECD's so-called 'gray list'," the Prime Minister announced. "There is broad consensus between Liechtenstein and the OECD regarding the necessity of global implementation of the existing standards. This is an important aspect in ensuring fair competition among financial centers worldwide," he added.

The meeting also involved discussions on multilateral approaches such as the Anti-Fraud Agreement between Liechtenstein and the EU, which in its current draft incorporates the exchange of tax information according to OECD standards.

In a further meeting, Tschütscher and Gurría held talks on a deeper mutual involvement and further strengthening of cooperation in the development of international initiatives in the areas of tax cooperation and international efforts to tackle money laundering. Liechtenstein confirmed its willingness to join and actively participate in the newly formed OECD Global Forum on Taxation, and reiterated its focus on continued and close cooperation with the Financial Action Task Force on Money Laundering (FATF).